Zoom Video Communications, Inc. (NASDAQ:ZM) Insider Velchamy Sankarlingam Sells 10,817 Shares

Zoom Video Communications, Inc. (NASDAQ:ZM - Get Free Report) insider Velchamy Sankarlingam sold 10,817 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the transaction, the insider now directly owns 117,760 shares of the company's stock, valued at $9,266,534.40. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Velchamy Sankarlingam also recently made the following trade(s):

• On Tuesday, December 10th, Velchamy Sankarlingam sold 3,618 shares of Zoom Video Communications stock. The stock was sold at an average price of $84.94, for a total value of $307,312.92.

Zoom Video Communications Trading Down 0.8 %

ZM stock traded down $0.64 during mid-day trading on Monday, reaching $78.82. The company's stock had a trading volume of 1,884,474 shares, compared to its average volume of 2,210,943. The stock has a market cap of $24.16 billion, a PE ratio of 26.27, a P/E/G ratio of 5.29 and a beta of -0.01. Zoom Video Communications, Inc. has a fifty-two week low of $55.06 and a fifty-two week high of $92.80. The company's 50 day moving average is $83.02 and its two-hundred day moving average is $71.24.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Zoom Video Communications from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Scotiabank raised shares of Zoom Video Communications to a "hold" rating in a research note on Tuesday, November 19th. Benchmark increased their target price on shares of Zoom Video Communications from $85.00 to $97.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Piper Sandler increased their target price on shares of Zoom Video Communications from $68.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley raised their price target on shares of Zoom Video Communications from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zoom Video Communications presently has an average rating of "Hold" and a consensus target price of $87.81.

Institutional Trading of Zoom Video Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in ZM. Truvestments Capital LLC acquired a new stake in shares of Zoom Video Communications during the 3rd quarter worth approximately $37,000. Allworth Financial LP increased its holdings in shares of Zoom Video Communications by 43.8% during the 3rd quarter. Allworth Financial LP now owns 591 shares of the company's stock worth $41,000 after buying an additional 180 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Zoom Video Communications by 56.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 763 shares of the company's stock worth $53,000 after buying an additional 274 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Zoom Video Communications by 27.1% during the 4th quarter. GAMMA Investing LLC now owns 770 shares of the company's stock worth $63,000 after buying an additional 164 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Zoom Video Communications by 10,763.6% during the 3rd quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $83,000 after buying an additional 1,184 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company's stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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